$BTC The downward trend has formed.

7.23 Intraday Bitcoin and Ethereum Market Summary Throughout the day, the intraday price repeatedly tested and consolidated around 65,500, moving sideways as it churned in that range. This level had already been confirmed multiple times before and forms an important line of defense for the bears. But in the afternoon, the bears saw a wave of modest volume expansion, quickly breaking below the 65,500 short-term support; the low touched 65,313, completing a breach of the first line of defense. After that, the bears’ volume thinned out and they paused, and the price weakly rebounded, returning to around 65,700. In the evening, the bears broke the deadlock first: with volume expanding, the price fell out of the core range of 65,000–65,500, and so far it is already approaching the 64,500 area. Meanwhile, Ethereum also saw volume expand and broke below 1,900; the current low is 1,872, and intraday there are still short-term stops being swept. On the 4-hour chart for the BTC, the price has already touched the lower Bollinger Band. If today’s downtrend continues, the bears’ structure will be further damaged. At the same time, it also suggests that a large-scale cycle double top may be taking shape, with the prior 67,255 high and the more recent 66,924 high—overall, the market’s weight will keep shifting downward. From a technical perspective, the market has not yet entered a repair phase, and moreover, the strength of the current rebound is too weak to rule out the risk of another selloff with increased volume. In terms of trading: if the 64,500 area does not show stop-fall signals such as long lower wicks or a bullish engulfing candle that engulfs the prior bearish candle, don’t easily make bearish moves. Even if you do, you should only use light size for short-term adjustments rather than sticking to an all-in bearish mindset. $BTC #GOOGL财报亮眼但盘后跌超3% $ETH

$BTC The downtrend is unstoppable